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Trans Tasman Commercialisation Fund

Introduction | Features

Introduction

Auckland City Council is supporting the Trans Tasman Commercialisation Fund, and the opportunity it will bring to the city for early stage commercialisation of intellectual property.

The $38 million research and early stage venture capital fund has been made available to The University of Auckland, and four Australian universities. The fund is backed by Australian superannuation specialist, Westscheme and is a bid to boost early stage commercialisation of intellectual property.

We are pleased to see initiatives such as the Trans Tasman Commercialisation Fund, which seeks to commercialise at a faster rate the excellent knowledge and expertise generated by New Zealand's largest university.

The transTasman nature of the fund will provide opportunities for knowledge exchange between The University of Auckland and associated New Zealand spin-off companies, and their Australian counterparts, thus helping Auckland city to become globally competitive.

We believe the fund will create economic benefits for Auckland by supporting growth of spin-off ventures, and by producing more jobs. The fund showcases the critical mass of world-class research and development activity taking place in the city's learning quarter and the universities successful role in bringing investment into the city. We are supporting Uniservices with this initiative and building on the partnership developed through the Learning Quarter project.

Our support is testament to our ongoing commitment to encourage productivity and business growth in Auckland.

Published October 2008